German President: Germany hopes to boost cooperation in trade and energy transition

German President Frank-Walter Steinmeier expressed a wish to enhance multi-faceted cooperation with Vietnam, particularly in trade and investment, energy transition, and labor, during talks with State President Vo Van Thuong in Hanoi on January 23 as part of his official visit to Vietnam.

He praised Vietnam as a reliable economic partner and expressed a desire to enhance economic ties, particularly in investment.

He affirmed Germany’s readiness to assist Vietnam through technology, experts, and financial assistance within the framework of the Joint Energy Transition Partnership (JETP), thus helping Vietnam fulfill its commitment to achieving net-zero emissions by 2050, as announced at the 26th United Nations Climate Change Conference of the Parties (COP26).

President Thuong emphasized that Vietnam values and prioritizes the development of relations with Germany.

He thanked Germany for its support of Vietnam’s development over the past three decades and proposed it continue its support through official development assistance (ODA) in energy, environment, and vocational training.

During their talks, the two leaders expressed delight at the strong development of relations between the two countries over the past five decades, particularly since Vietnam and Germany established their strategic partnership.

Germany has been Vietnam’s leading economic partner in Europe for many years, while Vietnam has been one of the largest trade partners of Germany in Southeast Asia.

Two-way trade turnover has tripled over the past decade and hit nearly $12 billion in 2023.

Germany is also Vietnam’s fourth-largest European investor.

The two leaders pledged to continue to fully and effectively implement the EU-Vietnam Free Trade Agreement (EUVFTA) and facilitate market access for each other’s strong products.